Trump is taking credit for sharply declining drug prices. The reality is more complex

President Donald Trump is pointing to new federal figures to claim drug prices are falling sharply, but experts say the story is more complicated. The White House highlighted data showing U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago—the steepest year-over-year decline since 1963—attributing it to “most favored nation” deals and the TrumpRx website. Drug pricing researchers argue other forces likely matter more, including a 2022 Biden-era law allowing Medicare to negotiate with manufacturers, plus increased competition from generics and biosimilars. They also note the Labor Department’s index reflects what pharmacies are paid, not patients’ net costs.